What do the other witnesses think about reducing the 13 weeks to 4? I am agreement with you and it didn't do STEEM any harm (the less said the better).
Talk to them and get some general consensus. As a large holder myself, I am hardly happy about the lack of movement. We all want a more valuable token.
How well is STEEM doing really? I suspect someone is propping the price up whilst a small group milk it ($800+ per post). They did 4 weeks to keep the exchanges who supported the takeover happy. I wonder if we will see a big dump when the whales decide to take their profits.
13 weeks is better than the 104 we had at the very start. There has been talk of shortening it in exchange to losing some of your HIVE. That may be an option. I just think we should not be encouraging short-term thinking based more on instinct than superior knowledge.
I do expect to power down so I can spend some of what I have earned at some point, but I will wait until the HIVE price is much higher. Even at a dollar I could take out $1000 or more in a week.
The Hive platform has utility as most bloggers/vloggers/musicians cannot make much elsewhere. We have a coin with free, fast transfers. There is scope to build a thriving economy. I care more about that than the speculators.
It's bollocks but we can't deny that it's usually over $1 and HIVE can't claw it's way up there. Something needs to change else 65c is going to be the top.
That doesn't mean its acceptable. Look at the volatility of crypto, there's nothing like it, and that makes it exciting and interesting. During 13 weeks I can grow a sizable beard. We could be in another winter within 3 months, nobody knows.
If HIVE did suddenly spike to several dollars would we want to see lots of people dump? I know your view is different to mine given what you have invested financially. I'm happy to ride out the bumps for now.
I've heard this hypothetical point brought up in response a lot but see no reason to even take it seriously.
Many tokens with no staking mechanism at all have gone up many times over in a matter of days. Are there then some selling? Yes, sure. But that didn't stop them from still growing to become top market cap tokens.
The solution is to keep adding more reasons for people to want to buy HIVE and/or to stay vested. Not to do whatever to make it harder to sell.
So what was the thinking behind 13 weeks and 104 weeks before it? I don't claim to understand all the economics. I have concerns that we would see more people dump earnings rather than keep them staked.
I don't think that's a reasonable concern. The problem isn't people selling. The problem is people wanting to sell.
Flip it around: If you have people who want to sell their HIVE but can't, do you believe they are going to be good participants in governance or curation? If they want to sell, the problem has already occurred imo.
We each have our own motivations. Have to make Hive a platform people want to keep a stake in. Not always easy, but worth trying.
Some would, and others would be attracted to posts that are now saying $200-$300. I wasn't here for it first time around, and that will attract more authors (for the wrong reasons albeit), but it will create noise.. and that's what we want as right now HIVE is whimpering and drowned out under all these more exciting things.. such as dare I say it.. DOGE (which is a load of crap, and we all know it).
Saw this story of someone at Goldman Sachs who took profit from DOGE and quit his job. I expect a few people will be able to do that. I expect it to crash eventually as it's all hype.
Steem had posts making $10,000 in the early days, so that generated some news, but that was due to skewed rewards and it got changed. Hive hardly gets any news stories that I have seen, but it's hard to find them due to the name. I am seeing people come back to it though. We need something to take us well ahead of Steem and then we might see real growth.
!BEER
https://dpoll.io/detail/@therealwolf/poll-improve-powerup-mechanism-please-vote
Voted... thanks!
If it's not happening after it's been talked about to death, I think you know the answer.
Has it been talked to death amongst the top 20? That is where the decisions are made. We don't have any exposure to this information.
I like what's coming in HF25, why not add this to the mix.
Yes and no one complains about Leo having 4 weeks